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Nov 29 - 03:55 AM

GBP/USD - Trying To Base But Correction Lacks Bite

By Peter Stoneham  —  Nov 29 - 02:31 AM
  • Last week saw a significantly weak close despite a Frid rebound

  • Price managed to close above key 100WMA and weekly cloud base

  • Frid 1.3360 high just shy of a 38.2% Fibo, 1.3368, off 1.3514-1.3278

  • GBP again trying lift early Mon but a long upper shadow already forming

  • Daily RSI sideways near over sold momentum holding negative values

  • Tempting to buy at market for a larger adj. but signals are mixed for now

  • Might consider picking up the pound near 1.3300 with a tight stop

    For more click on FXBUZ

GBP/USD Trader:

GBP/USD daily candle chart: Click here

Refinitiv IFR Research/Market Commentary


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